u/Calm-Huckleberry-601

I have a LoC which was given to me when I was a student for $75K. I used it for studies and then paid it off in full. It is active currently but is set to expire, after which it would be converted to loan at prime + 0.5% with 15 yr amort.

Have no other debt other than mortgage (21% home equity, some unutilized heloc)
I also have a property owned abroad

I am thinking to max out the LOC, and invest it in something meaningful (stocks, or business). This way I can probably generate some good returns over the years.

I know ideally you should not invest with borrowed money but I am not looking to squander it, or misuse it. Since it is about to expire and has a long tenure, I thought I can invest it. If I fail, I still have assets to pay it off.

Anyone been in this situation before?

Took CIBC Mortgage for 640K (160k down) FTHB, 30yr amort
Made 2 payments, so mortgage balance was about 638k
Applied for HELOC. Appraisal of home came at 805K (5K higher than purchase) after visit.
I thought I would be qualifying for 6K Heloc

However, mortgage effectively got refinanced. The balance is now 644K, heloc shows balance of -4K but not accessible for some reason. Also old payments are not factored in. (which would have reduced mortgage balance by 2k)

I do not need heloc funds, but I wanted to have one active, just in case I ever needed to.

This is very confusing. Is there some error or is this normal?

I owned a small apartment in India since 2007 (grandfather willed it to me).

I immigrated to Canada in 2018. This property was declared in T1135 returns based on an estimated value at that time.

Because of currency depreciation and market stagnation, the property will be sold at a value likely lower than what it was in 2018.

How to declare this to CRA in next year's tax returns?

I have documents to prove the sale value. But for the cost value, given the adjusted cost base application, how should this be done?

There are licensed property appraisers and I can provide a report from 2 of them.